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FLAREPEDIA

Token

Tokens are digital representations of an asset on a blockchain. Due to a cryptocurrency network's ability to stay secure through means of consensus, tokens have the ability to retain real world value.

Introduction

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One primary distinction of a token is whether it is fungible or non-fungible. Typically, Non-fungible tokens are referred to as NFTs.

Fungible

A fungible token is not unique in comparison to other fungible tokens of the same type. For example, if you own token $XYZ to is no difference than another individuals token $XYZ. These two tokens can be inter exchanged as there is no difference between the two.

Some examples of fungible tokens include $SGB, $FLR, $EXFI, and $SFIN.

Non-fungible

A non-fungible token, or NFT, is unique from one another of the same type. Each token has the ability to carry unique characteristics. For this reason, for example, if you own the non-fungible token $ABC it is very different and unique compared to another individual who may own a non-fungible token $ABC.

Some examples of non-fungible tokens include $888W, $FATCAT, $PUNKS, and $PANDAS

Fungible vs Non-fungible

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